Stocks, Commodities Drop on Irish Debt Concerns; Treasuries Rise

Global stocks fell for a seventh day, the longest streak since January, and commodities slid amid concern that the debt crisis in Ireland and Greece is worsening and that China will act to slow its economy. U.S. Treasuries snapped a two-day plunge and the dollar rallied.

The MSCI World Index slid 1.9 percent, the most since Aug. 11. The Standard & Poor’s 500 Index sank 1.6 percent. Ten-year Treasury yields fell 12 basis point to 2.84 percent after a 31-point gain over the past two days. Irish 10-year yields increased 28 basis points. The Dollar Index rose 0.9 percent, while nickel led commodities lower. After the close of U.S. markets, S&P 500 futures climbed 0.3 percent at 7 p.m. in New York while Japanese and Australian stocks fell in early trading.